Total amount raised
$270 Million
Latest funding date
04/01/2024
Location
SiMa.ai has successfully raised funds over 9 rounds, with the latest being a Series C. The company is backed by 15 investors, including StepStone Group and Maverick Capital.
Keep reading to explore the intricacies of SiMa.ai's fundraising journey and the investors backing this innovative platform.
What Is SiMa.ai?
SiMa.ai, based in San Jose, California, is a developer of machine learning technology focused on delivering a software-centric platform. The company operates in various industries, including AI Infrastructure, Artificial Intelligence, Embedded Systems, Machine Learning, Semiconductor, and Software.
Founded with the vision of scaling Physical AI, SiMa.ai offers a comprehensive platform that includes both software and hardware solutions. The company employs between 101-250 people and collaborates with industry leaders to provide advanced AI solutions for sectors such as industrial, automotive, retail, government, and healthcare.
How Much Funding Has SiMa.ai Raised?
- Seed Round
- Amount Raised: USD 4,000,000
- Date: January 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their machine learning technology and establish a foundational team.
- Seed Round
- Amount Raised: USD 6,000,000
- Date: August 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop their technology and prepare for market entry.
- Series A
- Amount Raised: USD 30,000,000
- Date: May 2020
- Lead Investors: Dell Technologies Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale their operations and enhance their machine learning platform.
- Series B
- Amount Raised: USD 80,000,000
- Date: May 2021
- Lead Investors: Fidelity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To meet growing customer demand and expand their product offerings.
- Series B
- Amount Raised: USD 30,000,000
- Date: May 2022
- Lead Investors: Fidelity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue product development and support market expansion.
- Series B
- Amount Raised: USD 37,000,000
- Date: October 2022
- Lead Investors: MSD Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance their technology and expand their market reach.
- Series B
- Amount Raised: USD 13,000,000
- Date: June 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing development and market penetration.
- Series B
- Amount Raised: USD 70,000,000
- Date: April 2024
- Lead Investors: Maverick Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the development and release of their second-generation MLSoC.
- Series C
- Amount Raised: USD 85,000,000
- Date: August 2025
- Lead Investors: Maverick Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale their operations and enhance their AI platform.
Total Amount Raised: USD 355,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Maverick Capital
- Details: Maverick Capital is a hedge fund that invests in a variety of sectors, including technology, healthcare, and consumer goods. The firm has a history of backing high-growth companies.
- Investment Focus Areas: Technology, healthcare, consumer goods
- Notable Investments: Alibaba, Amazon, Facebook
- Point72
- Details: Point72 is a global asset management firm that invests in public equity, fixed income, and private equity markets. The firm is known for its diversified investment strategy.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: Uber, Airbnb, Palantir
- Jericho
- Details: Jericho Capital is a hedge fund that focuses on technology, media, and telecommunications sectors. The firm is known for its strategic investments in early-stage companies.
- Investment Focus Areas: Technology, media, telecommunications
- Notable Investments: Facebook, Netflix, Tesla
- Amplify Partners
- Details: Amplify Partners focuses on early-stage investments in technology companies, particularly in the areas of infrastructure, data, and AI. The firm has a strong track record in backing innovative startups.
- Investment Focus Areas: Infrastructure, data, AI
- Notable Investments: Datadog, Fastly, Gremlin
- Dell Technologies Capital
- Details: Dell Technologies Capital is the venture capital arm of Dell Technologies, focusing on early to growth-stage companies in the technology sector. The firm leverages its industry expertise to support portfolio companies.
- Investment Focus Areas: Cloud computing, AI, cybersecurity
- Notable Investments: Zscaler, DocuSign, MongoDB
What's Next for SiMa.ai?
SiMa.ai stands at the cusp of a transformative era, with the development of their second-generation MLSoC poised to revolutionize edge AI applications. The company is set to leverage the burgeoning demand for AI capabilities in sectors like industrial manufacturing, retail, aerospace, defense, agriculture, and healthcare. The introduction of multimodal generative AI processing will enable SiMa.ai to cater to a wide array of applications, from autonomous vehicles to diagnostic machines, positioning them as a leader in the edge AI market.
With a total of $270 million raised, SiMa.ai is well-equipped to meet the growing market demands and continue its technological advancements. The significant financial backing and strategic partnerships with industry giants like Arm, Synopsys, and TSMC suggest that future fundraising opportunities are likely as the company progresses with its innovative solutions. The edge AI market, expected to more than double by 2027, presents a vast opportunity for SiMa.ai to expand its market presence and attract further investments.
However, the path forward is not without challenges. SiMa.ai will need to navigate the complexities of developing and launching their second-generation MLSoC while maintaining industry-leading performance and power efficiency. Competition from established players like Nvidia and other AI chip startups will also be a significant hurdle. Ensuring seamless integration of their technology across various edge devices and applications will be crucial for their continued success.
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